Magic on using his Starbucks money to buy the Dodgers: “There were no people of color who had a team in MLB”
Magic Johnson is a legend on the court and in the Business Arena. After winning multiple championships with the Los Angeles Lakers, Eilvin embarked on a business journey that generated billions of dollars and created many career opportunities. Man is truly one of the most beautiful creatures in the world.
Magic Tweaks Starbucks’ Menu
Johnson’s path to a net worth of $1.5 billion has been marked by careful management and astute decisions. In 1998, he embarked on an exciting quest to expand the Starbucks brand into the urban community.
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Magic grew up in the inner cities of Michigan, so he knew his market like the back of his hand. Johnson hit the menus by removing scones and replacing them with pound cake, remove me cake, and sweet potato pie – things urban shoppers want.
“I did it for my client,” Johnson said, via “Find Your Hobby”. “It’s very important, very important. I’ve never done it about myself. Where black people fail sometimes it’s about you and what you like, not what the customer likes.”
This was the same thing that Johnson used in theater chains – he knew that black people eat dinner at the movies, and because of serving popcorn dogs and hot things, popcorn shrimp. He also adds kool-aid with unique insects.
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Buying la dodgers
Tweak Showing Loot. Starbucks grew in the inner cities and proved that Johnson’s hypothesis known that urban customers have more power to be used, as long as they are given what they want.
Magic and Starbucks created 125 franchises in a five to six year period. He was out to create more, but then, CEO Bayard Schultz came to him and said, “We don’t have to do this four years, we make a lot of money.”
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The magician checked his financial books, there were some calculations, and it turned out that Schultz was right. He can walk out with millions in his bank account. In 2010, Johnson sold his stake in the coffee business for $100 million. However, the story did not end there.
In 2012, Johnson and his business partners acquired the Dodgers for a record 2.3 billion – the highest amount paid to a professional sports team at the time. The magician explained why he jumped at the chance as if logically.
“Why did I do that? First of all, there were no people of color [owned a team] in major league baseball. That’s one reason. Second reason, I buy dodgers. The Dodgers got the biggest product in baseball. Them and the yankees, those are the two biggest brands. So I knew it was going to be a run,” he explained.
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Now, the Dodgers are reportedly worth $7.5 billion. During Johnson’s ERA, they came off a five-game losing streak. They grabbed two world titles and shot for a third against the Toronto Blue Days.
Related: “I’ll deliver, take it, hold it, hold it” – magic Johnson on his way to compete with Michael Jordan in business
This story was originally reported by Basketball Network on November 2, 2025, where it first appeared in the half court. Add Basketball Network as a favorite source by clicking here.
